By Sabela Ojea
Shares of Pacira BioSciences climbed after the company said it entered a settlement agreement regarding the patent litigation for Exparel, a local anesthetic administered at the time of surgery.
The stock was up 15% to $26.25 in postmarket trading. Through Monday's close, shares are up 22% year to date.
The non-opioid pain management company said that the settlement with Fresenius Kabi USA and eVenus Pharmaceuticals Laboratories provides the parties with a license to the patents required to manufacture and sell certain volume-limited amounts of a generic bupivacaine liposome injectable suspension in the U.S. beginning in early 2030.
The license will permit entry of a generic bupivacaine liposome injectable suspension before the July 2, 2044, expiration date of the last-to-expire of the company's orange book-listed patents for Exparel.
Pacira said that it will pay the parties $7 million in connection with expected savings with respect to the avoidance of the fees, among other things.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
April 07, 2025 18:22 ET (22:22 GMT)
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